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SWA, SWAN GOLD MINING LIMITED
armourlite
post Posted: Nov 4 2013, 03:59 PM
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In Reply To: triage's post @ Dec 31 2012, 03:37 PM

This is my biggest loss ever this debarcle of a company. I would like it relisted so I can @#$% it off and use it as a tax offset form my other shares that are still in the green

Curse the day I ever laid eyes on SWA(MON) and didn't get out after a short rally. devilsmiley.gif weirdsmiley.gif grrr.gif

 
triage
post Posted: Dec 31 2012, 03:37 PM
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This one shows the slightest signs of movement again: can only be maggots squirming as it's as dead as monty python's parrot, and has been for a number of years (it hasn't traded since June 2008).

A small group of movers and shakers, including Michael Fotias and Peter Farris of Northern Star (NST) fame, must think they see some meat still there - true it has Michael Kiernan's old Mt Ida plant and diggings and the Carnegie poject, both just to the north of Kalgoorlie - and a few months back loaded themselves onto the Swan board and are now in the process of pumping substantial funds back into the company to stave off its liquidation (see the ASX announcement dated 17 Dec 12 for 115 pages of explanation).

http://en.wikipedia.org/wiki/Mount_Ida_Gold_Mine

Pretty much means of course that the legacy shares in SWA for those who got caught holding Mr Kiernan's Monarch - hey that includes me, bugger - will be diluted into this side of nothingness. All the Monarch drama is well and truly past tense of course and what is happening to SWA now is entirely out of my hands so there's not a thing I can do to alter the situation.

It seems that Messrs Fotias and Farris think now is the time to cash in some of their gains from NST - they each sold a stack of NST shares earlier in December (?) - and to go looking for the next zero to hero deal. Seeing how so many goldies have been struggling of late, with rising costs overpowering stagnant prices, they can only be taking this punt because they believe a change in the industry metrics is likely. Mt Ida does have high grades (but not a massive lot of them) but that was not enough to save Monarch back in 2008 so you'd think the operation would still be a marginal project using current figures (?).



--------------------
"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog
 
Ian
post Posted: Mar 28 2010, 08:50 PM
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In Reply To: alonso's post @ Mar 25 2010, 02:18 PM

Still the chance to go bust again??
cheers
ian

 
alonso
post Posted: Mar 25 2010, 02:18 PM
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Well, here we are, all furnished with a glossy & glowing prospectus-like communication.
What a cathartic experience!
Never mind, while there is life there is . . .something, can't quite remember.



--------------------
"The optimist proclaims that we live in the best of all possible worlds. The pessimist fears this is true"

"What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom." Adam Smith
 
ShareScene.com
post Posted: Mar 11 2010, 08:26 AM
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Renamed by request:

FROM:
MONARCH GOLD MINING COMPANY LIMITED (MON)

TO:
SWAN GOLD MINING LIMITED (SWA)

Thankyou
Sharescene.com

 
alonso
post Posted: Feb 23 2010, 02:29 PM
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In Reply To: triage's post @ Feb 23 2010, 01:28 PM

Isn't MON being relisted with a name change to SWA? so I assume existing holders remain . .to watch the sp drop to .005 or thereabouts.



--------------------
"The optimist proclaims that we live in the best of all possible worlds. The pessimist fears this is true"

"What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom." Adam Smith
 

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triage
post Posted: Feb 23 2010, 01:28 PM
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In Reply To: Ian's post @ Feb 23 2010, 12:40 PM

Ian

Just out of interest, how does this relisting affect holders of the old MON? Or is it more simply that some assets of the old MON are being transferred to another entity?



--------------------
"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

Mozart fixes everything and Messi is a dog
 
Ian
post Posted: Feb 23 2010, 12:40 PM
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In Reply To: Ian's post @ Aug 12 2009, 10:11 PM

MON to re-list very shortly as SWA.
Its been a long time coming!
Ian

 
Ian
post Posted: Aug 12 2009, 10:11 PM
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In Reply To: boundless's post @ Aug 12 2009, 07:19 PM

That beer in the pub may need to be a shandy!!!

 
boundless
post Posted: Aug 12 2009, 07:19 PM
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In Reply To: Ian's post @ Aug 12 2009, 10:03 AM

Apparently they will be reissued for 5 cents

 
 


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